Cintas Co. (NASDAQ:CTAS) Stock Holdings Boosted by Carderock Capital Management Inc.

by · The Markets Daily

Carderock Capital Management Inc. grew its holdings in Cintas Co. (NASDAQ:CTAS – Free Report) by 288.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,678 shares of the business services provider’s stock after buying an additional 47,271 shares during the quarter. Cintas accounts for 3.1% of Carderock Capital Management Inc.’s investment portfolio, making the stock its 3rd largest position. Carderock Capital Management Inc.’s holdings in Cintas were worth $13,110,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. SG Americas Securities LLC raised its position in Cintas by 3,302.1% during the third quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock worth $103,194,000 after acquiring an additional 486,500 shares during the period. Los Angeles Capital Management LLC increased its stake in shares of Cintas by 123.1% during the second quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock worth $256,326,000 after purchasing an additional 201,955 shares in the last quarter. Swedbank AB raised its position in shares of Cintas by 308.3% during the 3rd quarter. Swedbank AB now owns 221,336 shares of the business services provider’s stock worth $45,569,000 after purchasing an additional 167,123 shares during the last quarter. Global Assets Advisory LLC purchased a new position in Cintas in the 1st quarter valued at about $84,646,000. Finally, Congress Asset Management Co. MA boosted its holdings in Cintas by 124.9% in the 1st quarter. Congress Asset Management Co. MA now owns 195,506 shares of the business services provider’s stock worth $134,318,000 after buying an additional 108,582 shares during the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cintas

In other news, Director Gerald S. Adolph sold 4,400 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total value of $842,292.00. Following the transaction, the director now directly owns 125,808 shares in the company, valued at approximately $24,083,425.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 15.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Stifel Nicolaus increased their target price on Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a report on Friday, July 19th. Wells Fargo & Company raised their price objective on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. Robert W. Baird upped their target price on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. UBS Group raised their price target on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Morgan Stanley boosted their price target on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $199.63.

Read Our Latest Research Report on CTAS

Cintas Stock Up 1.1 %

Shares of NASDAQ CTAS opened at $212.93 on Thursday. Cintas Co. has a 1 year low of $123.65 and a 1 year high of $213.40. The company has a market capitalization of $21.60 billion, a P/E ratio of 14.71, a P/E/G ratio of 4.12 and a beta of 1.32. The company has a 50 day simple moving average of $213.58 and a 200-day simple moving average of $188.37. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33.

Cintas (NASDAQ:CTAS – Get Free Report) last posted its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the previous year, the business earned $3.70 earnings per share. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, equities research analysts predict that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas declared that its board has approved a share repurchase program on Tuesday, July 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Cintas Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were given a $0.39 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.73%. Cintas’s payout ratio is currently 10.77%.

Cintas Profile

(Free Report)

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.

See Also

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